Air Liquide Acquires Progressive Resources, Inc.

January 03, 2013 01:56 PM Eastern Time

HOUSTON--(BUSINESS WIRE)--Air Liquide Industrial U.S. LP (“Air Liquide”) today announced that
it has acquired Progressive Resources, Inc (“PRI”), an Oklahoma based
oilfield services company. PRI is a key supplier of liquid nitrogen
and cryogenic storage and distribution systems and related services to
the oil and gas services sector. The company primarily serves oil and
gas service companies that have significant sourcing and logistical
needs.

Bulk liquid nitrogen is provided by PRI to customers for a
variety of oil and gas well site applications that include well
stimulation, pressure testing, drill stem testing, coil tubing
operations, and cleaning and jetting.

Said Mark Lostak, president of Air Liquide Industrial U.S. LP: “The
PRI acquisition is a reflection of Air Liquide’s continued commitment to
growth, particularly in the U.S. industrial merchant and oil field
services markets. We welcome our new employees and look forward to
building upon PRI’s significant breadth and experience in oil field
services. As a major supplier of industrial gases to the oil and gas
services sector, acquiring PRI further expands our commitment to
providing customers with the highest quality of products and services in
a safe, cost-effective manner.”

PRI’s business is built on a foundation of safety and exceptional
service. The company serves customers through five service centers
located in Elk City, Oklahoma; McAlester, Oklahoma; Kilgore, Texas;
Conway, Arkansas; and, Paintsville, Kentucky.

Currently in North America, Air Liquide supplies nitrogen and carbon
dioxide to oil and gas producers and well services companies. The PRI
acquisition is the latest in Air Liquide’s growing efforts to enhance
service offerings to oil and gas customers, and follows Air Liquide’s
recently announced plans to build a plant in northwest North Dakota to
serve oil and gas customers in the region.

Air Liquide is the world leader in gases for industry, health and
the environment, and is present in 80 countries with 46,200
employees. Oxygen, nitrogen, hydrogen and rare gases have been at
the core of Air Liquide’s activities since its creation in 1902. Using
these molecules, Air Liquide continuously reinvents its business,
anticipating the needs of current and future markets. The Group
innovates to enable progress, to achieve dynamic growth and a consistent
performance.

Innovative technologies that curb polluting emissions, lower
industry’s energy use, recover and reuse natural resources or develop
the energies of tomorrow, such as hydrogen, biofuels or photovoltaic
energy... Oxygen for hospitals, home healthcare, fighting nosocomial
infections... Air Liquide combines many products and technologies to
develop valuable applications and services not only for its customers
but also for society.

A partner for the long term, Air Liquide relies on employee
commitment, customer trust and shareholder support to pursue its vision
of sustainable, competitive growth. The diversity of Air
Liquide’s teams, businesses, markets and geographic presence provides a
solid and sustainable base for its development and strengthens its
ability to push back its own limits, conquer new territories and build
its future.

Air Liquide explores the best that air can offer to preserve life,
staying true to its Corporate Social Responsibility and sustainable
development approach. In 2011, the Group’s revenues amounted to €14.5
billion, of which more than 80% were generated outside France. Air
Liquide is listed on the Paris Euronext stock exchange (compartment A)
and is a member of the CAC 40 and Dow Jones Euro Stoxx 50 index.

Air Liquide in the U.S.

Air Liquide companies in the U.S. employ about 5,000 employees in
over 200 locations, and offers industrial gases, equipment and
related services

Industrial Merchant activities of Air Liquide

The Industrial Merchant business line manages the production and
distribution of gases in bulk and cylinders, and provides
customers with the applications and services required for their
implementation. Its customers range from tradesmen to major businesses
and use industrial gases in 5 key sectors: food and pharmaceuticals,
automobile and manufacturing, crafts and distribution, materials and
energy, and technology and research.